Cobalt 27 Closes Royalties on Flemington Nickel-Cobalt Project and Nyngan Scandium Project in Australia
TSX VENTURE: KBLT
TORONTO, Jan. 18, 2019 /CNW/ - Cobalt 27 Capital Corp. ("Cobalt 27" or the "Company") (TSXV: KBLT)(OTCQX: CBLLF)(FRA: 27O), a battery metals streaming and royalty company offering direct exposure to metals integral to electric vehicles and energy storage systems, today announced the closing of the acquisition of previously announced royalties, including a 1.5% Gross Revenue Royalty ("GRR") on the Flemington Cobalt-Scandium-Nickel Project, and a 1.7% GRR on the fully permitted and construction-ready Nyngan Scandium Project, located in Australia (see news release dated May 7, 2018).
Cobalt 27 acquired the Flemington and Nyngan royalties from Jervois Mining Limited for total consideration of US$4.5 million, comprised of US$1.5 million in cash and 422,856 common shares of the Company which shares will be subject to a four month hold period from the date of issuance in accordance with applicable Canadian securities laws.
About Cobalt 27 Capital Corp.
Cobalt 27 Capital Corp. is a leading battery metals streaming company offering exposure to metals integral to key technologies of the electric vehicle and energy storage markets. The Company owns 2,905.7 Mt of physical cobalt and a 32.6% Cobalt Stream on Vale's world-class Voisey's Bay mine, beginning in 2021. Cobalt 27 is undertaking a friendly acquisition of Highlands Pacific which is expected to add increased attributable nickel and cobalt production from the long-life, world-class Ramu Mine. The Company also manages a portfolio of 11 royalties and intends to continue to invest in a cobalt-nickel-lithium-focused portfolio of streams, royalties and direct interests in mineral properties containing battery metals.
For further information please visit the Company website at www.cobalt27.com or contact:
Betty Joy LeBlanc, BA, MBA
Director, Corporate Communications
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. No securities regulatory authority has either approved or disapproved of the contents of this press release.